Nuveen LLC Invests $29.50 Million in Mirum Pharmaceuticals, Inc. $MIRM

Nuveen LLC acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 654,722 shares of the company's stock, valued at approximately $29,495,000. Nuveen LLC owned 1.32% of Mirum Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. boosted its holdings in Mirum Pharmaceuticals by 9,440.4% during the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock valued at $15,649,000 after purchasing an additional 343,725 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 46.7% in the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after purchasing an additional 229,746 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Mirum Pharmaceuticals by 101.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,276 shares of the company's stock valued at $16,050,000 after acquiring an additional 179,316 shares during the period. D. E. Shaw & Co. Inc. bought a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $6,507,000. Finally, Marshall Wace LLP grew its stake in shares of Mirum Pharmaceuticals by 641.6% during the fourth quarter. Marshall Wace LLP now owns 175,913 shares of the company's stock worth $7,274,000 after purchasing an additional 152,191 shares during the period.

Insider Activity

In related news, SVP Jolanda Howe sold 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president owned 2,426 shares in the company, valued at $140,708. This represents a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer directly owned 138,641 shares of the company's stock, valued at $8,595,742. The trade was a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,041 shares of company stock valued at $5,320,624. 14.36% of the stock is currently owned by insiders.

Mirum Pharmaceuticals Trading Up 2.5%

Shares of NASDAQ:MIRM traded up $1.7080 during midday trading on Friday, reaching $70.7680. The company's stock had a trading volume of 203,419 shares, compared to its average volume of 500,750. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -58.22 and a beta of 0.94. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $36.86 and a fifty-two week high of $71.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The firm has a 50 day moving average price of $54.37 and a two-hundred day moving average price of $48.30.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $107.91 million. During the same quarter in the previous year, the business posted ($0.52) EPS. Mirum Pharmaceuticals's revenue for the quarter was up 64.1% compared to the same quarter last year. As a group, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. Evercore ISI increased their price target on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 17th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Finally, HC Wainwright upped their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $74.13.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.